Where do most investment bankers go to school?
Undergrad: The Ivy League schools (HYP and UPenn (Wharton) more than the others), NYU (Stern), U Michigan (Ross), UC Berkeley (Haas), Notre Dame (Mendoza), Georgetown (McDonough), Northwestern, Duke, UVA (McIntire), Stanford, MIT, UChicago, and arguably the top liberal arts colleges (Williams, Amherst, etc.).
New York, New York, USA
New York City is typically considered the finance capital of the world. Many of the largest investment banks, including Goldman Sachs,14 Morgan Stanley,15 and Merrill Lynch,16 are headquartered in New York City. So too are several large banks, including Citigroup and JPMorgan Chase.
A two-year Master of Business Administration (MBA) in financial management is a sought-after postgraduate degree for investment bankers. You can also do a Master of Science (MS) in finance.
- University of Pennsylvania. 3.30% ...
- Columbia University. 2.70% ...
- Cornell University. 2.70% ...
- University of Chicago. 1.60% ...
- London School of Economics (LSE) 1.60% ▲12.
- University of Michigan. 1.50% ▽20.
- The University of Texas at Austin. 1.40% ▲07.
- University of North Carolina at Chapel Hill.
College Degrees
A college degree in finance or economics is typically the starting point for entry-level jobs at an investment bank. Accounting and business are also common educational backgrounds.
Harvard ranks #3 on our investment banking target school list, behind only UPenn and Georgetown.
Ex-Goldman Sachs helping train students/recent grads to secure jobs in banking - 90% placement rate to banks like GS, UBS and JP. These are the 10 hardest investment banks to get a job at in the world🌍👇 1. JP Morgan 2. Goldman Sachs 3.
The top global financial cities are New York City, London, Singapore, Hong Kong, and San Francisco, as determined by the GFCI 34 rankings. Other important financial centers around the world include Shanghai, Frankfurt, Zurich, Tokyo, and Chicago.
Goldman Sachs is often cited as the hardest investment bank to get into, due to its prestigious reputation, highly competitive hiring process, and rigorous standards for candidates in terms of experience, education, and skills.
The University of Pennsylvania is one of the top schools for Goldman Sachs, Citigroup (C), and Credit Suisse (CS).
Does school matter for investment banking?
What College Should I Go to in Order to Get into Investment Banking? To become an investment banker, it is absolutely essential that you earn a college degree. Usually, it doesn't matter which college you go to as long as there are plenty of opportunities for you to complete internships and make plenty of connections.
The typical investment banker has a graduate degree in business from an Ivy League school or other top-tier university and superior educational credentials [i.e., excellent grades (minimum 3.50 GPA), active participation in business and investment clubs, and participation in at least one internship or summer program at ...
The second top employer is the bank with the highest share of employees from that undergraduate school. For example, Penn's first top employer is Goldman Sachs, because more Penn (undergraduate) alumni work at Goldman Sachs than at any of the other twelve banking firms.
In the U.S., the top investment banking companies include the Big Four Banks — JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo.
They try to hire the top students from those schools as they have a track record of hiring talent from them. However, that does not mean that you cannot land such a job if you do not attend an ivy league school. If the banks do not come to your campus, then you need to get creative.
| Position Title | Typical Age Range | Base Salary (USD) |
|---|---|---|
| Associate | 25-35 | $175-$225K |
| Vice President (VP) | 28-40 | $250-$300K |
| Director / Senior Vice President (SVP) | 32-45 | $300-$350K |
| Managing Director (MD) | 35-50 | $400-$600K |
Investment banking is extremely competitive with way more applicants than available positions each year. You will often be up against students from Ivy League universities, with a high GPAs and multiple internships under their belts.
Those interested in banking positions with higher salaries, such as investment banking, will need to pursue a master of business administration degree. Earning a degree in business management or business administration will also help you prepare for management promotions within a banking institution.
What GPA should I have? Applicants should be between 3.9 and 4.0 to be strong candidates for admission to this school. Having less than this will require compensating by increasing your SAT or ACT score.
For those seeking a career in investment banking, a bachelor's degree in finance is a prerequisite. Other potential acceptable majors include bachelors in economics or bachelors in business supplemented with a minor in finance.
How do I break into investment banking?
- Earn a bachelor's degree in finance or a related field. ...
- Consider a graduate degree or MBA. ...
- Register with FINRA and obtain certification. ...
- Take part in on-the-job training. ...
- Advance your career.
1. Goldman Sachs is the highest paying bank overall - $398k in combined salaries and bonuses, on average. Goldman Sachs, which paid average salaries of $200k and average bonuses of $199k for 2023, was the highest paying bank we polled. It took top position by virtue a leap in bonus payments.
The well-known bulge bracket banks like Goldman Sachs, J.P. Morgan, and Bank of America tend to work analyst-level investment bankers at the industry standard scale of 60-80 hours per week. Example Bulge Bracket Banks: Goldman Sachs.
The median annual wage for business and financial occupations is $46,310 higher than the median annual wage for all occupations. Drawbacks of a career in finance can include high stress, long working hours, continuing education requirements, and, in some cases, limited job stability.
The term Tier 1 describes an institution's core capital or the core asset holdings of a bank. These assets are usually the most stable and liquid assets a bank possesses, with high risk aversion. Tier 1 capital includes shareholder equity and retained earnings.
